Eledon Pharmaceuticals' (ELDN) "Sell (D)" Rating Reiterated at Weiss Ratings

Key Points

• Eledon Pharmaceuticals has had its "sell (d)" rating reiterated by Weiss Ratings, indicating continued skepticism from analysts regarding the stock's performance.
• Despite the "sell" rating, several analysts have issued "buy" ratings with price targets ranging from $9.00 to $12.00, suggesting some mixed confidence in future performance.
• As of Wednesday, Eledon Pharmaceuticals' stock traded at $2.87, with analysts expecting an EPS of -0.81 for the current year.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report)'s stock had its "sell (d)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also commented on the stock. Craig Hallum started coverage on shares of Eledon Pharmaceuticals in a research report on Friday, July 25th. They set a "buy" rating and a $12.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $9.00 price objective on shares of Eledon Pharmaceuticals in a research note on Tuesday, September 2nd. Finally, Zacks Research lowered Eledon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $10.00.

Eledon Pharmaceuticals Stock Performance

NASDAQ:ELDN traded up $0.14 on Wednesday, hitting $2.87. The stock had a trading volume of 1,191,173 shares, compared to its average volume of 1,033,069. The firm's fifty day simple moving average is $2.67 and its two-hundred day simple moving average is $2.97. Eledon Pharmaceuticals has a 1 year low of $2.32 and a 1 year high of $5.54. The stock has a market cap of $171.86 million, a P/E ratio of -2.45 and a beta of 0.40.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.10. Equities research analysts predict that Eledon Pharmaceuticals will post -0.81 EPS for the current year.

Institutional Trading of Eledon Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Ground Swell Capital LLC bought a new stake in Eledon Pharmaceuticals in the second quarter worth $31,000. ProShare Advisors LLC purchased a new position in shares of Eledon Pharmaceuticals in the second quarter valued at about $33,000. CW Advisors LLC purchased a new position in shares of Eledon Pharmaceuticals in the first quarter valued at about $34,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Eledon Pharmaceuticals in the second quarter valued at about $37,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Eledon Pharmaceuticals in the first quarter valued at about $41,000. 56.77% of the stock is owned by institutional investors.

About Eledon Pharmaceuticals

Eledon Pharmaceuticals, Inc operates as a clinical stage biotechnology company. The company uses its immunology expertise in targeting the CD40 Ligand (CD40L, also called CD154) pathway to develop therapies to protect transplanted organs and prevent rejection, and to treat amyotrophic lateral sclerosis (ALS).

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